Hensarling: Build a Bank Fund, And It Will be Used
Dallas’ own Jeb Hensarling is among the opposition speaking out against financial regulatory reform legislation approved by the House Financial Services Committee today. One of the measures would require big banks to pay fees into a $150 billion fund to be used in case one of them fails.
Here’s what “the GOP’s Most Powerful Nobody” said:
“Pre-funding the fund would lead to more bailouts because the fund would be sitting and available to be used,” said Rep. Jeb Hensarling, R-Texas. “If you build it they will come, it will create an expectation that the fund would be used.”
2 Comments to “Hensarling: Build a Bank Fund, And It Will be Used”
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So, little Jeb thinks that, for example, Bank of America is going to tank itself just so it can possibly access a government pool of cash? Really? Really?
Perhaps a bank won’t “tank itself” on purpose, but it certainly won’t discourage banking executives from taking unnecessary risks.